FSCA REQUEST FOR INFORMATION: COVID-19 IMPACT ON RETIREMENT FUND SAVINGS
To determine the impact that COVID-19 is having on financially distressed employers and employees, and the related impact on retirement savings, all retirement funds are requested to furnish certain information to the FSCA as set out in Annexure A by 15 June 2020.
Failure to comply with the request constitutes an offence under section 267 of the Financial Sector Regulation Act.
Also as part of its supervisory approach, the FSCA issued Communication 11 of 2020 dealing with pension and provident fund rules regarding temporary absence from work, break in service/employment, postponement of contributions and/or reduction in pensionable service.
To read FSCA Communication 11 of 2020, click here.
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